City of Omaha Mayor’s Office

Local Professionals to Assist with City Investments

Mayor Jim Suttle today announced the re-establishment of the Investment Advisory Committee by Mayoral Executive Order. The Investment Advisory Committee had not previously been meeting on a regular basis. The purpose of the 5-member committee is:

• To review and recommend general investment strategies for the City of Omaha.
• To review and recommend investment and portfolio policies that will maximize both the short-term and long-term yields of municipal investments, including costs of transactions and competitive choices.
• To review and recommend sound and secure investment procedures consistent with applicable Federal and State laws and the Home Rule Charter as amended.
• To review such practices and procedures and provide a written report to the Mayor recommending changes and current status of City investment policies.

“With the financial challenges facing the City of Omaha, now is the perfect time to open our investment portfolio and bring in the experts,” Mayor Jim Suttle said. “This Committee is an opportunity for us to diversify our portfolio and make smart investments for the future of our City.”

Committee members include: City Finance Director Pam Spaccarotella as Chair, City Revenue Manager Irene Wolfe, City Attorney Paul Kratz, and two members of the private sector investment community: Cella Quinn of Quinn Investment Services, and John Conley of Conley Investment Council, Inc.

“Both Cella Quinn and John Conley have a strong history and track record of success investing for individuals, companies, foundations, and other institutions,” Mayor Suttle said. “I am confident they will be of great assistance to the City of Omaha and will provide valuable professional expertise advice on our investments and investment policies.”

The Investment Advisory Committee will hold its first meeting the week of October 12th.